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Nokia Acquires World's Largest API Center to Strengthen Software Capabilities for 5G And 4G Networks
Published: 11.21.2024
Nokia announced its acquisition of the world's largest application programming interface (API) center from US-based Rapid. This move aims to boost revenue from its 5G and 4G network business and accelerate AI-related investments to monetize 5G devices and diversify its market.
APIs are strings of code that enable standardized communication, data exchange, and functionality between software components. In advanced 5G networks, APIs facilitate faster, safer, and more accurate access to data like user location and connection status.
Founded in 2015 by Iddo Gino, RapidAPI has emerged as a leading platform for API discovery, testing, and connection. By acquiring Mashape API Marketplace in 2017, RapidAPI solidified its position as the world's largest API center, attracting over 4 million developers.
RapidAPI has garnered significant traction in the enterprise market, with numerous well-known global companies adopting its platform as their internal API center. As of 2021, RapidAPI supports over 40,000 APIs from major tech giants like Twilio, Microsoft, and Google.
In 2022, RapidAPI secured $150 million in Series D funding, valuing the company at $1 billion.
Nokia's acquisition of RapidAPI’s technology and R&D department will enable customers to seamlessly integrate their networks, control API usage, and collaborate with platform developers. This strategic move is expected to significantly boost Nokia's 5G and 4G network business revenue and enhance its overall competitiveness.
APIs are crucial for 5G networks, facilitating seamless communication and collaboration between software components. By leveraging RapidAPI's expertise, Nokia aims to accelerate the development of innovative 5G solutions.
